U.S. Jobless Claims Drop Sharply 🔻

The U.S. labor market showed renewed strength as initial jobless claims fell by 16,000 to 207,000 for the week ending January 25th, well below market expectations of 220,000. This marks a sharp reversal from the near two-month high recorded last week, bringing claims back in line with the lower range seen in recent weeks.

Meanwhile, continuing jobless cl…